Silver Bull Resources (SVBL) 10-K 19 Jan 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2016	Jan. 18, 2017	Apr. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	SILVER BULL RESOURCES, INC.
Entity Central Index Key	1,031,093
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		177,894,967
Entity Public Float			$ 14.8
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Oct. 31, 2016	Oct. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 1,467,328	$ 950,878
Value-added tax receivable, net of allowance for uncollectible taxes of $88,283 and $103,429 respectively (Note 4)	117,276	132,207
Income tax receivable		2,596
Other receivables	4,652	18,400
Prepaid expenses and deposits	116,271	135,421
Assets held for sale (Note 5)	21,283
Total Current Assets	1,726,810	1,239,502
Office and mining equipment, net (Note 6)	226,301	305,614
Property concessions (Note 7)	5,004,386	5,593,263
Goodwill (Note 8)	2,058,031	2,058,031
TOTAL ASSETS	9,015,528	9,196,410
CURRENT LIABILITIES
Accounts payable	133,274	119,371
Accrued liabilities and expenses (Note 9)	334,297	282,933
Income tax payable	10,623	5,436
Total Current Liabilities	478,194	407,740
COMMITMENTS AND CONTINGENCIES (Notes 1, 10 and 16)
STOCKHOLDERS' EQUITY (Notes 10, 11, 12 and 13)
Common stock, $0.01 par value; 300,000,000 shares authorized, 177,894,967 and 159,072,657 shares issued and outstanding, respectively	1,778,949	1,590,726
Additional paid-in capital	126,820,897	125,025,319
Accumulated deficit	(120,281,820)	(118,046,936)
Other comprehensive income	219,308	219,561
Total Stockholders' Equity	8,537,334	8,788,670
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 9,015,528	$ 9,196,410

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Oct. 31, 2016	Oct. 31, 2015
Statement of Financial Position [Abstract]
Allowance for uncollectible taxes, current	$ 88,283	$ 103,429
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	177,894,967	159,072,657
Common stock, shares outstanding	177,894,967	159,072,657

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Income Statement [Abstract]
REVENUES
EXPLORATION AND PROPERTY HOLDING COSTS
Exploration and property holding costs	488,957	802,029
Depreciation and property concessions' impairment (Notes 5 and 7)	638,264	56,995
Goodwill impairment (Note 8)		16,437,000
TOTAL EXPLORATION AND PROPERY HOLDING COSTS	1,127,221	17,296,024
GENERAL AND ADMINISTRATIVE EXPENSES
Personnel	469,555	519,884
Office and administrative	372,223	477,919
Professional services	211,925	280,018
Directors' fees	137,607	194,175
Provision for uncollectible value-added taxes	1,726	12,062
Depreciation		889
TOTAL GENERAL AND ADMINISTRATIVE EXPENSES	1,193,036	1,484,947
LOSS FROM OPERATIONS	(2,320,257)	(18,780,971)
OTHER INCOME (EXPENSES)
Interest and investment income	998	1,462
Interest and finance costs (Note 9)	(2,393)	(528)
Foreign currency transaction loss	(37,949)	(93,526)
Miscellaneous income (Note 5)	133,825	67
TOTAL OTHER INCOME (EXPENSES)	94,481	(92,525)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(2,225,776)	(18,873,496)
INCOME TAX EXPENSE (Note 14)	9,108	336
LOSS FROM CONTINUING OPERATIONS	(2,234,884)	(18,873,832)
Loss from discontinued operations, net of income taxes (Note 3)		(159,277)
Gain on sale of assets of discontinued operations, net of income taxes (Note 3)		287,280
NET LOSS	(2,234,884)	(18,745,829)
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustments	(253)	54,210
Realized foreign currency translation gain on sale of assets of discontinued operations (Note 3)		7,163
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	(253)	61,373
COMPREHENSIVE LOSS	$ (2,235,137)	$ (18,684,456)
BASIC AND DILUTED NET LOSS PER COMMON SHARE
Loss from continuing operations	$ (0.01)	$ (0.12)
Loss from discontinued operations
NET LOSS	$ (0.01)	$ (0.12)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	165,345,167	159,072,657

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,234,884)	$ (18,745,829)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and asset's impairment	638,264	61,189
Goodwill impairment (Note 8)		16,437,000
Provision for uncollectible value-added taxes	1,726	12,062
Gain on sale of assets of discontinued operations (Note 3)		(287,280)
Gain on sale of office and mining equipment (Note 5)	(132,817)
Foreign currency transaction loss	31,375	175,220
Stock options issued for compensation	102,993	104,169
Changes in operating assets and liabilities:
Value-added tax receivable	(3,968)	(11,147)
Income tax receivables	2,365	(569)
Other receivables	12,927	6,690
Prepaid expenses and deposits	17,167	75,019
Accounts payable	13,935	(141,404)
Accrued liabilities and expenses	60,796	(21,646)
Income tax payable	5,467	(4,564)
Net cash used in operating activities	(1,484,654)	(2,341,090)
CASH FLOWS FROM INVESTING ACTIVITIES:
Other assets		80,238
Proceeds from sale of equipment	141,285
Acquisition of property concessions		(30,000)
Net proceeds from sale of discontinued operations (Note 3)		1,364,757
Net cash provided by investing activities	141,285	1,414,995
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of offering costs (Note 11)	1,503,254
Proceeds from exercise of warrants, net of costs (Note 11)	377,554
Net cash provided by financing activities	1,880,808
Effect of exchange rates on cash and cash equivalents	(20,989)	(9,196)
Net increase (decrease) in cash and cash equivalents	516,450	(935,291)
Cash and cash equivalents beginning of year	950,878	1,886,169
Cash and cash equivalents end of year	1,467,328	950,878
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income taxes paid	4,863	9,562
Interest paid	2,393	528
NON-CASH FINANCING ACTIVITIES:
Warrants issued for financing fees (Note 13)	$ 11,621

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Income [Member]	Total
Balance at Oct. 31, 2014	$ 1,590,726	$ 124,921,150	$ (99,301,107)	$ 158,188	$ 27,368,957
Balance, shares at Oct. 31, 2014	159,072,657				159,072,657
Stock option and warrant activity as follows:
Stock-based compensation for options issued to directors, officers and employees		104,169			$ 104,169
Other comprehensive income (loss)				61,373	61,373
Net loss			(18,745,829)		(18,745,829)
Balance at Oct. 31, 2015	$ 1,590,726	125,025,319	(118,046,936)	219,561	$ 8,788,670
Balance, shares at Oct. 31, 2015	159,072,657				159,072,657
Issuance of common stock for cash at a price of Canadian dollar ("$CDN") $0.13 per share with attached warrants less offering costs of $75,443 (Note 11)	$ 113,623	948,577			$ 1,062,200
Issuance of common stock for cash at a price of Canadian dollar ("$CDN") $0.13 per share with attached warrants less offering costs of $75,443 (Note 11) (in shares)	11,362,310
Issuance of common stock for cash at a price of $CDN 0.15 per share with attached warrants less offering costs of $75,296 (Note 11)	$ 43,400	386,033			429,433
Issuance of common stock for cash at a price of $CDN 0.15 per share with attached warrants less offering costs of $75,296 (Note 11) (in shares)	4,340,000
Issuance of common stock exercise of warrants at an average price of $CDN 0.16 per share less costs of $1,509 (Note 11)	$ 31,200	346,354			$ 377,554
Issuance of common stock exercise of warrants at an average price of $CDN 0.16 per share less costs of $1,509 (Note 11) (in shares)	3,120,000				(3,120,000)
Stock option and warrant activity as follows:
Stock-based compensation for options issued to directors, officers and employees		102,993			$ 102,993
fair value of warrants issued to agent in connection with the $CDN 0.15 per share private placement (Notes 11 and 13)		11,621			11,621
Other comprehensive income (loss)				(253)	(253)
Net loss			(2,234,884)		(2,234,884)
Balance at Oct. 31, 2016	$ 1,778,949	$ 126,820,897	$ (120,281,820)	$ 219,308	$ 8,537,334
Balance, shares at Oct. 31, 2016	177,894,967				177,894,967

CONSOLIDATED STATEMENT OF STOC7

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical)	12 Months Ended
	Oct. 31, 2016USD ($)$ / shares
Common Stock Issuance One [Member]
Equity issuance, amount per share | $ / shares	$ 0.13
Offering costs incurred | $	$ 75,443
Common Stock Issuance Two [Member]
Equity issuance, amount per share | $ / shares	$ 0.15
Offering costs incurred | $	$ 75,296
Common Stock Issuance Three [Member]
Equity issuance, amount per share | $ / shares	$ 0.16
Offering costs incurred | $	$ 1,509

ORGANIZATION, DESCRIPTION OF BU

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN	12 Months Ended
	Oct. 31, 2016
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN [Abstract]
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN	NOTE 1 – ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN Silver Bull Resources, Inc. (the "Company") was incorporated in the State of Nevada on November 8, 1993 as the Cadgie Company for the purpose of acquiring and developing mineral properties. The Cadgie Company was a spin-off from its predecessor, Precious Metal Mines, Inc. On June 28, 1996, the Company's name was changed to Metalline Mining Company. On April 21, 2011, the Company's name was changed to Silver Bull Resources, Inc. The Company has not realized any revenues from its planned operations and is considered an exploration stage company. The Company has not established any reserves with respect to its exploration projects and may never enter into the development stage with respect to any of its projects. The Company engages in the business of mineral exploration. The Company currently owns or has the option to acquire a number of property concessions in Mexico (collectively known as the "Sierra Mojada Property"). The Company conducts its operations in Mexico through its wholly-owned subsidiary corporations, Minera Metalin S.A. de C.V. ("Minera Metalin") and Contratistas de Sierra Mojada S.A. de C.V. ("Contratistas") and through Minera Metalin's wholly-owned subsidiary Minas de Coahuila SBR S.A. de C.V. ("Minas"). On April 16, 2010, Metalline Mining Delaware, Inc., a wholly-owned subsidiary of the Company, was merged with and into Dome Ventures Corporation ("Dome"). As a result, Dome became a wholly-owned subsidiary of the Company. Dome has a wholly-owned subsidiary Dome Asia Inc. ("Dome Asia"), which is incorporated in the British Virgin Islands. Dome Asia has a wholly-owned subsidiary incorporated in Gabon, African Resources SARL Gabon ("African Resources"), as well as a 99.99%-owned subsidiary, Dome Minerals Nigeria Limited, incorporated in Nigeria. In January 2015, the Company completed the sale of its subsidiary Dome International Global Inc. ("Dome International"), including Dome International's wholly-owned subsidiary Dome Ventures SARL Gabon ("Dome Gabon"), which held the Ndjole prospect in Gabon. The Company's efforts and expenditures have been concentrated on the exploration of properties, principally in the Sierra Mojada Property located in Coahuila, Mexico. The Company has not determined whether its exploration properties contain ore reserves that are economically recoverable. The ultimate realization of the Company's investment in exploration properties is dependent upon the success of future property sales, the existence of economically recoverable reserves, and the ability of the Company to obtain financing or make other arrangements for exploration, development, and future profitable production activities. The ultimate realization of the Company's investment in exploration properties cannot be determined at this time. Going Concern Since its inception in November 1993, the Company has not generated revenue and has incurred a deficit of $120,281,820. Accordingly, the Company has not generated cash flows from operations, and since inception the Company has relied primarily upon proceeds from private placements and registered direct offerings of the Company's equity securities and warrant exercises as the primary sources of financing to fund the Company's operations. The Company's continuation as a going concern is dependent upon several possible financing and strategic options not limited to the following: obtaining adequate equity financing, joint venture opportunities on the Sierra Mojada Property, and asset divestitures. However, there is no assurance that the Company will be successful in pursuing these financing and strategic options. Accordingly, even after taking into account the proceeds from the Company's recent private placements and warrants exercised, there is substantial doubt as to whether the Company's existing cash resources and working capital are sufficient to enable the Company to continue its operations for the next 12 months as a going concern. These consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary in the event the Company can no longer continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies is presented to assist in understanding the consolidated financial statements. The consolidated financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. Basis of Presentation The Company's consolidated financial statements are presented in the U.S. dollar and have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") using the accrual method of accounting, except for cash flow amounts. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, after elimination of intercompany accounts and transactions. The wholly owned subsidiaries of the Company are listed in Note 1 to the consolidated financial statements. Use of Estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates based on assumptions about future events that affect the amounts reported in the consolidated financial statements and related notes to the consolidated financial statements. Actual results could differ from those estimates. Estimates and assumptions are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and assumptions are accounted for prospectively. Significant areas involving the use of estimates include determining the allowance for uncollectible taxes, evaluating recoverability of property concessions, evaluating impairment of long-lived assets, evaluating impairment of goodwill, establishing a valuation allowance on future use of deferred tax assets and calculating stock-based compensation. Revenue Recognition The Company recognizes revenue when the title and risks and rewards of ownership pass to the buyer, the selling price is fixed and determinable, persuasive evidence of an arrangement exists and collection of the sale proceeds is considered probable. As of October 31, 2016, the Company has not recognized any revenues. Cash and Cash Equivalents Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less at the date of purchase. Property Concessions Property concessions acquisition costs are capitalized when incurred and will be amortized using the units of production method following the commencement of production. If a property concession is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. To date, no property concessions have reached the production stage. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of property concessions. Exploration Costs Exploration costs incurred are expensed to the date of establishing that costs incurred are economically recoverable. Exploration expenditures incurred subsequent to the establishment of economic recoverability are capitalized and included in the carrying amount of the related property. To date, the Company has not established the economic recoverability of its exploration prospects; therefore, all exploration costs are being expensed. Property and Equipment Property and equipment are recorded at cost less accumulated depreciation and impairment losses. Assets under construction are depreciated when they are substantially complete and available for their intended use, over their estimated useful lives. Repairs and maintenance of property and equipment are expensed as incurred. Costs incurred to enhance the service potential of property and equipment are capitalized and depreciated over the remaining useful life of the improved asset. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows: · Mining equipment – five to 10 years · Vehicles – four years · Building and structures – 40 years · Computer equipment and software – three years · Well equipment – 10 to 40 years · Office equipment – three to 10 years Impairment of Long-Lived Assets Management reviews and evaluates its long-lived assets for impairment when events and changes in circumstances indicate that the related carrying amounts of its assets may not be recoverable. Impairment is considered to exist if the future cash flows on an undiscounted basis are less than the carrying amount of the long-lived asset. An impairment loss is measured and recorded based on the difference between book value and fair value of the asset group. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable cash flows that are largely independent of cash flows from other asset groups. In estimating future cash flows the Company estimates the price that would be received to sell an asset group in an orderly transaction between market participants at the measurement date. Significant factors that impact this price include the price of silver and zinc, and general market conditions for exploration companies among other factors. Assets Held for Sale Office and mining equipment is classified as held for sale when the following conditions are met: (i) assets (or group of assets) are actively marketed for a price which reasonably approximates the fair value at the time of sale; (ii) management has committed to a plan to sell the assets (or group of assets); (iii) the assets (or group of assets) are available for sale in their current condition; and (iv) sale is probable within the next 12 months. Goodwill Goodwill is the purchase premium after adjusting for the fair value of net assets acquired. Goodwill is not amortized but is reviewed for potential impairment on an annual basis, or when events or circumstances indicate a potential impairment, at the reporting unit level. The Company performs its annual goodwill impairment tests at April 30 th In performing the goodwill impairment tests, the Company has the option to elect to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that this is the case or the Company does not chose to elect to perform a qualitative assessment, the Company is required to perform the currently prescribed two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized for that reporting unit (if any). If the Company determines based on the qualitative assessment that the fair value of a reporting unit is not less than its carrying amount, the two-step goodwill impairment test is not required. During the year ended October 31, 2015, the Company recorded an impairment charge to goodwill of $16,437,000. In determining the fair value of its long-lived assets, including goodwill, the Company used its market capitalization at October 31, 2015 and reduced this amount by the Company's cash and cash equivalents at October 31, 2015. The Company determined market capitalization less cash and cash equivalents to be sufficiently representative of fair value due to the limited number of comparable assets, all of which have unique characteristics. No impairment of goodwill was deemed necessary in fiscal year ended October 31, 2016. Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based on temporary differences between the tax basis and accounting basis of the assets and liabilities measured using tax rates enacted at the balance sheet date. The Company recognizes the tax benefit from uncertain tax positions only if it is at least "more likely than not" that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement with the taxing authorities. This accounting standard also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods and disclosure. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the "more likely than not" standard imposed by this guidance to allow recognition of such an asset. Management recorded a full valuation allowance at October 31, 2016 and October 31, 2015 against the deferred tax assets as it deems future realization would not meet the "more likely than not" criteria. Stock-Based Compensation and Warrants The Company uses the Black-Scholes pricing model as a method for determining the estimated fair value for all stock options awarded to employees, officers, directors and consultants. The expected term of the options is based upon evaluation of historical and expected future exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the options. Volatility is determined based upon historical volatility of the Company's stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none as the Company has not paid dividends nor does the Company anticipate paying any dividends in the foreseeable future. The Company uses the graded vesting attribution method to recognize compensation costs over the requisite service period. The Company also uses the Black-Scholes valuation model to determine the fair market value of a placement agent's compensation warrants. Expected volatility is based upon weighted average historical volatility over the contractual term of the warrant and implied volatility. The risk-free interest rate is based upon implied yield on a U.S. Treasury zero-coupon issue with a remaining term equal to the contractual term of the warrants. The dividend yield is assumed to be none as the Company has not paid dividends nor does not anticipate paying any dividends in the foreseeable future. Loss per Share Basic loss per share includes no dilution and is computed by dividing net loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted loss per share reflects the potential dilution of securities that could share in the earnings of an entity similar to fully diluted loss per share. Although there were stock options and warrants in the aggregate of 16,058,258 shares and 8,657,858 shares outstanding at October 31, 2016 and 2015, respectively, they were not included in the calculation of loss per share because they would have been considered anti-dilutive. Foreign Currency Translation During the years ended October 31, 2016 and October 31, 2015, the functional currency of Silver Bull Resources, Inc. and its subsidiaries is the U.S. dollar except for the Gabonese subsidiaries whose functional currency is the Central African franc ("$CFA"). During the years ended October 31, 2016 and October 31, 2015 the Company's Mexican operations' monetary assets and liabilities were translated into U.S. dollars at the period-end exchange rate and non-monetary assets and liabilities were translated using the historical exchange rate. The Company's Mexican operations' revenue and expenses were translated at the average exchange rate during the period except for depreciation of office and mining equipment, cost of office and mining equipment sold and impairment of property concessions which are translated using the historical exchange rate. Foreign currency translation gains and losses of the Company's Mexican operations are included in the consolidated statement of operations. During the years ended October 31, 2016 and October 31, 2015 assets and liabilities of the Company's Gabonese operations were translated into U.S. dollars at the period-end exchange rate, and revenue and expenses were translated at the average exchange rate during the period. Exchange differences arising on translation were disclosed as a separate component of stockholders' equity. Realized gains and losses from foreign currency transactions were reflected in the results of operations and comprehensive loss. Accounting for Loss Contingencies and Legal Costs From time to time, the Company is named as a defendant in legal actions arising from its normal business activities. The Company records an accrual for the estimated loss from a loss contingency when information available prior to issuance of its financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Disclosure of a loss contingency is made by the Company if there is at least a reasonable possibility that a loss has been incurred, and either an accrual has not been made or an exposure to loss exists in excess of the amount accrued. In cases where only disclosure of the loss contingency is required, either the estimated loss or a range of estimated loss is disclosed or it is stated that an estimate cannot be made. Legal costs incurred in connection with loss contingencies are considered period costs and accordingly are expensed in the period services are provided. Discontinued Operations Dome International's consolidated statements of operations are presented as income/loss from discontinued operations in the 2015 consolidated statements of operations. The 2015 consolidated statements of cash flows have not been adjusted to reflect discontinued operations. Recent Accounting Pronouncements Adopted in the Year Effective November 1, 2015 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update (" Recent Accounting Pronouncements Not Yet Adopted In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230)," which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning November 1, 2018. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In March 2016, the FASB issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting," which amends several aspects of the accounting for share-based payment transaction, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. These changes become effective for the Company's fiscal year beginning November 1, 2017. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In February 2016, the FASB issued ASU 2016-02, "Leases," which will require lessees to recognize assets and liabilities for the rights and obligations created by most leases on the balance sheet. These changes become effective for the Company's fiscal year beginning November 1, 2019. Modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, is required with an option to use certain transition relief. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities," which (i) requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, (ii) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (iii) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and (iv) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. These changes become effective for the Company's fiscal year beginning November 1, 2018. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In November 2015, the FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes," which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. These changes become effective for the Company's fiscal year beginning November 1, 2017. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position and disclosures at this time. In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. These changes became effective for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In August 2015, the FASB issued ASU 2015-14, "Deferral of the Effective Date," which defers the effective date of ASU 2014-09, "Revenue from Contracts with Customers" to become effective for the Company's fiscal year beginning November 1, 2018. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory," which provides a revised, simpler measurement for inventory to be measured at the lower of cost and net realizable value. These changes become effective for the Company's fiscal year beginning November 1, 2017. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires that debt issuance costs related to a recognized debt liability be presented as a reduction to the carrying amount of that debt liability, not as an asset. These changes became effective prospectively for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis," which amends the consolidation requirements in Accounting Standards Codification 810. These changes became effective prospectively for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In August 2014, the FASB issued ASU 2014-15, "Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability To Continue as a Going Concern." ASU 2014-15 is intended to define management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The update provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. The amendments are effective for the Company's fiscal year and interim periods within those years beginning after November 1, 2017. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the SEC did not or are not believed to have a material impact on the Company's present or future consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Oct. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 3 – DISCONTINUED OPERATIONS On January 23, 2015, the Company closed the sale to BHK Mining Corp. (formerly BHK Resources, Inc.) of 100% of the issued and outstanding securities of the Company's former subsidiary, Dome International, which holds, indirectly, a 100% interest in the Ndjole concession. Under the terms of the share purchase agreement, the Company received cash consideration of $1,500,000 and reimbursement of the Company's expenses of $75,000 in cash. In addition, the Company incurred transaction costs of $210,243. As a result of this transaction, the Company realized a gain on the sale of assets of discontinued operation of $287,280, net of income taxes. The following table details selected financial information included in the (income) loss from discontinued operations for the fiscal years ended October 31, 2016 and 2015. For the Year Ended October 31, 2016 2015 Exploration and property holding costs $ — $ 85,542 Depreciation and asset impairment — 3,305 Foreign currency transaction loss — 70,430 Gain on sale of discontinued operations, net of income taxes — (287,280 ) Income from discontinued operations, net of income taxes $ — $ (128,003 )

VALUE-ADDED TAX RECEIVABLE

VALUE-ADDED TAX RECEIVABLE	12 Months Ended
	Oct. 31, 2016
VALUE-ADDED TAX RECEIVABLE [Abstract]
VALUE-ADDED TAX RECEIVABLE	NOTE 4 – VALUE-ADDED TAX RECEIVABLE Value-added tax ("VAT") receivable relates to VAT paid in Mexico. The Company estimates net VAT of $117,276 will be received within 12 months of the balance sheet date. The allowance for uncollectible VAT taxes was estimated by management based upon a number of factors including the length of time the returns have been outstanding, responses received from tax authorities, general economic conditions in Mexico and estimated net recovery after commissions. During the year ended October 31, 2016, a provision of uncollectible VAT of $1,726 has been recorded. A summary of the changes in the allowance for uncollectible VAT taxes for the fiscal years ended October 31, 2016 is as follows: Allowance for uncollectible VAT taxes – October 31, 2014 $ 116,274 Provision for uncollectible VAT Taxes 12,062 Write-off VAT receivable (3,550 ) Foreign currency translation adjustment (21,357 ) Allowance for uncollectible VAT taxes – October 31, 2015 103,429 Provision for uncollectible VAT Taxes 1,726 Write-off VAT receivable (3,835 ) Foreign currency translation adjustment (13,037 ) Allowance for uncollectible taxes – October 31, 2016 $ 88,283

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	12 Months Ended
	Oct. 31, 2016
ASSETS HELD FOR SALE [Abstract]
ASSETS HELD FOR SALE	NOTE 5 – ASSETS HELD FOR SALE The Company has classified certain office and mining equipment as assets held for sale as at October 31, 2016 as these assets were approved for immediate sale in their present condition, the assets were expected to be sold within one year and management has an active program to locate buyers for these assets. As at October 31, 2016, the assets held for sale had a net book value of $21,283. An impairment of $13,788 was recorded on assets held for sale during the year ended October 31, 2016. During the year ended October 31, 2016, the Company recorded a gain on sale of office and mining equipment of $132,817, which is included in miscellaneous income in the consolidated statements of operations and comprehensive loss.

OFFICE AND MINING EQUIPMENT

OFFICE AND MINING EQUIPMENT	12 Months Ended
	Oct. 31, 2016
Property, Plant and Equipment [Abstract]
OFFICE AND MINING EQUIPMENT	NOTE 6 – OFFICE AND MINING EQUIPMENT The following is a summary of the Company's office and mining equipment at October 31, 2016 and October 31, 2015, respectively: October 31, October 31, 2016 2015 Mining equipment $ 291,529 $ 504,451 Vehicles 53,451 81,261 Building and structures 182,436 191,966 Computer equipment and software 83,701 83,701 Well equipment 39,637 39,637 Office equipment 52,931 52,931 703,685 953,947 Less: Accumulated depreciation (477,384 ) (648,333 ) Office and mining equipment, net $ 226,301 $ 305,614

PROPERTY CONCESSIONS

PROPERTY CONCESSIONS	12 Months Ended
	Oct. 31, 2016
PROPERTY CONCESSIONS [Abstract]
PROPERTY CONCESSIONS	NOTE 7 – PROPERTY CONCESSIONS The following is a summary of the Company's property concessions in Sierra Mojada, Mexico as at October 31, 2016 and 2015, respectively: Property Concessions – October 31, 2014 $ 5,563,263 Acquisitions 30,000 Property Concessions – October 31, 2015 $ 5,593,263 Impairment (588,877 ) Property Concessions – October 31, 2016 $ 5,004,386 During the fiscal year ended October 31, 2016, the Company decided to reduce the Company's concession holdings in Sierra Mojada, Mexico. As a result, the Company has impaired the capitalized property concession balance related to these concessions of $588,877.

GOODWILL

GOODWILL	12 Months Ended
	Oct. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	NOTE 8 – GOODWILL Goodwill represents the excess, at the date of acquisition, of the purchase price of the business acquired over the fair value of the net tangible and intangible assets acquired. At October 31, 2015, the Company did not elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount and therefore performed the two-step goodwill impairment test. Based on the Company's goodwill impairment test as described in Note 2, Summary of Significant Accounting Policies – Impairment of Long-Lived Assets and Note 2, Summary of Significant Accounting Policies – Goodwill, to the consolidated financial statements, the Company recorded a goodwill impairment of $16,437,000 in the fiscal year ended October 31, 2015. The Company calculated the goodwill impairment as of October 31, 2015 and the Company calculated the fair value in accordance with level three fair value assumptions. The following is a summary of the Company's goodwill balance as at October 31, 2016 and 2015, respectively: Goodwill – October 31, 2014 $ 18,495,031 Impairment (16,437,000 ) Goodwill – October 31, 2015 and 2016 $ 2,058,031

ACCRUED LIABILITIES AND EXPENSE

ACCRUED LIABILITIES AND EXPENSES	12 Months Ended
	Oct. 31, 2016
Accrued Liabilities and Other Liabilities [Abstract]
ACCRUED LIABILITIES AND EXPENSES	NOTE 9 – ACCRUED LIABILITIES AND EXPENSES During the year ended October 31, 2016 and 2015, the Company financed an insurance premium at an interest rate of 7.49% and 7.99% respectively. The insurance premium finance agreements have a maturity of less than one year and have a balance of $87,000 and $65,250 respectively which are included in accrued liabilities and expenses at October 31, 2016 and 2015.

SHAREHOLDER RIGHTS PLAN

SHAREHOLDER RIGHTS PLAN	12 Months Ended
	Oct. 31, 2016
SHAREHOLDER RIGHTS PLAN [Abstract]
SHAREHOLDER RIGHTS PLAN	NOTE 10 – SHAREHOLDER RIGHTS PLAN On June 11, 2007, the board of directors adopted a shareholders' right plan through the adoption of a Rights Agreement, which became effective immediately. In connection with the adoption of the Rights Agreement, the board of directors declared a distribution of one share of common stock purchase right (a "Right") In certain circumstances, in the event that any person acquires beneficial ownership of 20% or more of the outstanding stock of the Company's common stock, each holder of a Right, other than the acquirer, would be entitled to receive, upon payment of the purchase price, which is initially set at $20 per Right, a number of shares of the Company's common stock having a value equal to two times such purchase price. The Rights will expire on June 11, 2017.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Oct. 31, 2016
Stockholders' Equity Note [Abstract]
COMMON STOCK	NOTE 11 – COMMON STOCK On May 19, 2016, June 3, 2016 and June 29, 2016, the Company completed a three tranche private placement for an aggregate of 11,362,310 units at a purchase price of $CDN 0.13 per unit (the "$CDN 0.13 Unit") for aggregate gross proceeds of $1,137,643 ($CDN 1,477,100). Each $CDN 0.13 Unit consists of one share of the Company's common stock and one warrant (the "$CDN 0.13 Warrant"). Each $CDN 0.13 Warrant entitles the holder thereof to acquire one share of common stock at a price of $CDN 0.16 for the period of 12 months from the closing of the tranche of the private placement. If the closing price of the common stock of the Company on the OTCQB Venture Marketplace is $0.18 or higher for five consecutive trading days, then the $CDN 0.13 Warrant will expire 30 trading days from such fifth consecutive day. The Company paid an 8% finder's fee totaling $19,644 to certain agents with respect to certain purchasers who were introduced by these agents. The Company incurred other costs of $55,799 related to this private placement. On July 20, 2016, the Company completed a private placement of an aggregate of 4,340,000 units at a purchase price of $CDN 0.15 per unit (the "$CDN 0.15 Unit") for aggregate gross proceeds of $504,729 ($CDN 651,000). Each $CDN 0.15 Unit consists of one share of the Company's common stock and one warrant (the "$CDN 0.15 Warrant"). Each $CDN 0.15 Warrant entitles the holder thereof to acquire one share of common stock at a price of $CDN 0.16 for the period of 36 months from the closing of the private placement. If, commencing on the date that is four months after the closing of the private placement, the closing price of the common stock on the TSX is higher than $CDN 0.30 for 20 consecutive trading days, then on the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the $CDN 0.15 Warrants may be accelerated to the 20th trading day after the Acceleration Trigger Date by the issuance, within three trading days of the Acceleration Trigger Date, of a news release announcing such acceleration. The Company paid a 6% finder's fee totaling $23,326 to a placement agent with respect to certain purchasers who were introduced by this agent. In addition, the placement agent received 200,400 non-transferable warrants (the "Placement Agent's Warrants") . On August 5, 2016, the warrant expiry acceleration clause contained in the $CDN 0.13 Warrants was triggered following a period of five consecutive trading days in which the closing price of the common stock of the Company on the OTCQB Venture Marketplace was $0.18 or higher. In total, 11,362,310 $CDN 0.13 Warrants were accelerated with a new expiration date of September 19, 2016. On September 15, 2016, 2,500,000 warrants to acquire 2,500,000 shares of common stock were exercised at an exercise price of $CDN 0.16 per share of common stock . to acquire 620,000 shares of common stock were exercised at an exercise price of $CDN 0.16 per share of common stock . No common stock was issued during the fiscal year ended October 31, 2015.

STOCK OPTIONS

STOCK OPTIONS	12 Months Ended
	Oct. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK OPTIONS	NOTE 12 – STOCK OPTIONS The Company has one active stock option plan, the 2010 Stock Option and Stock Bonus Plan, as amended (the "2010 Plan"). Under the 2010 Plan, the lesser of (i) 30,000,000 shares or (ii) 10% of the total shares outstanding are reserved for issuance upon the exercise of options or the grant of stock bonuses. Under the 2006 Stock Option Plan (the "2006 Plan"), the Company may grant non-statutory and incentive options to employees, directors and consultants for up to a total of 5,000,000 shares of common stock. However, as of May 1, 2016, no additional options may be issued under the 2006 Plan. Options are typically granted with an exercise price equal to the closing market price of the Company's stock at the date of grant, have a graded vesting schedule over approximately one to two years and have a contractual term of two to 10 years. A summary of the range of assumptions used to value stock options granted for the fiscal years ended October 31, 2016 and 2015 are as follows: Year Ended October 31, Options 2016 2015 Expected volatility 65% – 84% — Risk-free interest rate 0.79% – 0.98% — Dividend yield — — Expected term (in years) 2.50 – 3.50 — During the year ended October 31, 2016, the Company granted options to acquire 4,075,000 shares of common stock with an exercise price of $CDN 0.075 and 300,000 shares of common stock with an exercise price of $CDN 0.255. The weighted-average grant-date fair value of stock options granted was $0.03 per share. No options were exercised during the fiscal year ended October 31, 2016 No options were granted or exercised during the fiscal year ended October 31, 2015. The following is a summary of stock option activity for the fiscal years ended October 31, 2016 and 2015: Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2014 11,422,144 $ 0.50 3.00 $ — Forfeited or Cancelled (2,764,286 ) 0.64 Outstanding at October 31, 2015 8,657,858 $ 0.46 2.36 $ — Granted 4,375,000 0.06 Expired (1,000,000 ) 0.85 Forfeited or Cancelled (515,000 ) 0.46 Outstanding at October 31, 2016 11,517,858 0.28 2.66 $ 227,891 Exercisable at October 31, 2016 8,601,192 $ 0.35 2.09 $ 75,964 The Company recognized stock-based compensation costs for stock options of $102,993 and $104,169 for the fiscal years ended October 31, 2016 and 2015, respectively. As of October 31, 2016, there remains $46,501 of total unrecognized compensation expense, which is expected to be recognized over a weighted average period of 0.59 years. Summarized information about stock options outstanding and exercisable at October 31, 2016 is as follows: Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.06 4,075,000 4.32 $ 0.06 1,358,334 $ 0.06 0.19 – 0.26 2,625,000 3.06 0.25 2,425,000 0.26 0.37 1,705,000 1.65 0.37 1,705,000 0.37 0.44 – 0.60 3,070,000 0.70 0.51 3,070,000 0.51 2.18 42,858 1.22 2.18 42,858 2.18 $ 0.06 – 2.18 11,517,858 2.66 $ 0.28 8,601,192 $ 0.35

WARRANTS

WARRANTS	12 Months Ended
	Oct. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	NOTE 13 - WARRANTS A summary of warrant activity for the fiscal years ended October 31, 2016 and 2015 is as follows: Warrants Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2014 and 2015 — $ — — $ — Issued in the $CDN 0.13 Unit private placement (Note 11) 11,362,310 $ 0.12 Issued in the $CDN 0.15 Unit private placement (Note 11) 4,340,000 0.12 Placement Agent's Warrants 200,400 0.16 Exercised (3,120,000 ) 0.12 Expired (8,242,310 ) 0.12 Outstanding and exercisable at October 31, 2016 4,540,400 $ 0.12 2.67 $ — During the year ended October 31, 2016, the Company issued 11,362,310 warrants with an exercise price of $CDN 0.16 in connection with the $CDN 0.13 Unit private placement (Note 11). During the year ended October 31, 2016, the Company issued 4,340,000 warrants with an exercise price of $CDN 0.16 in connection with the $CDN 0.15 Unit private placement and issued 200,400 compensation warrants to a placement agent with an exercise price of $CDN 0.205 (Note 11). The fair value of the Placement Agent's Warrants was determined to be $11,621 based upon the Black-Scholes pricing model using a risk-free interest rate of 0.73%, expected volatility of 89%, dividend yield of 0%, and a contractual term of two years. On August 5, 2016, the warrant expiry acceleration clause contained in the $CDN 0.13 Warrants was triggered following a period of five consecutive trading days in which the closing price of the common stock of the Company on the OTCQB Venture Marketplace was $0.18 or higher. In total, 11,362,310 $CDN 0.13 Warrants were accelerated with a new expiration date of September 19, 2016. On September 15, 2016, 2,500,000 warrants to acquire 2,500,000 shares of common stock were exercised at an exercise price of $CDN 0.16 per share of common stock. to acquire 620,000 shares of common stock were exercised at an exercise price of $CDN 0.16 per share of common stock. These warrants had an intrinsic value of $57,737 at the time of exercise. No warrants were issued or exercised during the year ended October 31, 2015. Summarized information about warrants outstanding and exercisable at October 31, 2016 is as follows: Warrants Outstanding and Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $ 0.12 4,340,000 2.72 $ 0.12 0.15 200,400 1.72 0.15 $ 0.12 – 0.15 4,540,400 2.67 $ 0.12

INCOME TAXES

INCOME TAXES	12 Months Ended
	Oct. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 – INCOME TAXES Provision for Taxes The Company files a United States federal income tax return and a Canadian branch return on a fiscal year-end basis and files Mexican income tax returns for its three Mexican subsidiaries on a calendar year-end basis. The Company and two of its wholly-owned subsidiaries, Minera Metalin and Minas, have not generated taxable income since inception. Contratistas, another wholly- On April 16, 2010, a wholly-owned subsidiary of the Company was merged with and into Dome, resulting in Dome becoming a wholly-owned subsidiary of the Company. Dome, a Delaware corporation files a tax return in the United States as part of the Company's consolidated tax return and African Resources files a tax return in Gabon, Africa. Dome and its subsidiaries do not currently generate taxable income. The components of loss before income taxes were as follows: For the year ended 2016 2015 United States $ (1,363,000 ) $ (1,657,000 ) Foreign (863,000 ) (17,216,000 ) Loss from continuing operations (2,226,000 ) (18,873,000 ) Income from discontinued operations — 128,000 Loss before income taxes $ (2,226,000 ) $ (18,745,000 ) The components of the provision for income taxes are as follows: For the year ended 2016 2015 Foreign Current tax expense $ 9,000 $ — Deferred tax expense — — Total from continuing operations 9,000 — Total from discontinued operations — — $ 9,000 $ — The Company's provision for income taxes for the fiscal year ended October 31, 2016 consisted of a tax expense of $9,108 related to a provision for income taxes for Contratistas and the Silver Bull Canadian branch return for the fiscal year ended October 31, 2016. The reconciliation of the provision for income taxes computed at the U.S. statutory rate to the provision for income tax as shown in the statement of operations and comprehensive loss is as follows: For the year ended October 31, 2016 2015 Income tax benefit calculated at U.S. federal income tax rate $ (779,000 ) $ (6,561,000 ) Differences arising from: Permanent differences due to goodwill impairment (Note 8) — 4,931,000 Other permanent differences 40,000 (944,000 ) Differences due to foreign income tax rates 43,000 1,210,000 Adjustment to prior year taxes 493,000 (223,000 ) Inflation adjustment foreign net operating loss (242,000 ) (272,000 ) Foreign currency fluctuations 1,731,000 2,091,000 Decrease in valuation allowance (1,452,000 ) (544,000 ) Net operation loss carry forwards expiration – Mexico 173,000 220,000 Other 2,000 92,000 Net income tax provision $ 9,000 $ — The components of the deferred tax assets at October 31, 2016 and 2015 were as follows: October 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards – U.S. $ 11,353,000 $ 11,322,000 Net capital loss carry forwards – U.S. 103,000 165,000 Net operating loss carry forwards – Mexico 8,300,000 9,148,000 Stock-based compensation – U.S. 24,000 53,000 Exploration costs — 560,000 Other – U.S. 35,000 21,000 Other – Mexico 19,000 20,000 Total net deferred tax assets 19,834,000 21,289,000 Less: valuation allowance (19,834,000 ) (21,289,000 ) Net deferred tax asset $ — $ — At October 31, 2016, the Company has U.S. net operating loss carry-forwards of approximately $32 million which expire in the years 2018 through 2036. The Company has U.S net capital loss carry-forwards of approximately $0.3 million which expire in the year 2020. The Company has approximately $28 million of net operating loss carry-forwards in Mexico which expire in the years 2017 through 2026. The valuation allowance for deferred tax assets of $19.8 million and $21.3 million at October 31, 2016 and 2015, respectively, relates principally to the uncertainty of the utilization of certain deferred tax assets, primarily net operating loss carry forwards in various tax jurisdictions. The Company continually assesses both positive and negative evidence to determine whether it is more likely than not that the deferred tax assets can be realized prior to their expiration. Based on the Company's assessment, it has determined that the deferred tax assets are not currently realizable. Net Operating Loss Carry Forward Limitation The Tax Reform Act of 1986 contains provisions that limit the utilization of net operating loss and tax credit carry forwards if there has been a change in ownership as described in Section 382 of the Internal Revenue Code. As a result of the Dome merger in April 2010, substantial changes in the Company's ownership have occurred that may limit or reduce the amount of net operating loss carry forwards that the Company could utilize in the future to offset taxable income. The Company has not completed a detailed Section 382 study at this time to determine what impact, if any, that ownership changes may have had on its operating loss carry forwards. In each period since its inception, the Company has recorded a valuation allowance for the full amount of its deferred tax assets, as the realization of the deferred tax asset is uncertain. As a result, the Company has not recognized any federal or state income tax benefit in its consolidated statement of operations and comprehensive loss. Accounting for Uncertainty in Income Taxes During the fiscal years ended October 31, 2016 and 2015, the Company has not identified any unrecognized tax benefits or had any additions or reductions in tax positions and therefore a reconciliation of the beginning and ending amount of unrecognized tax benefits is not presented. The Company does not have any unrecognized tax benefits as of October 31, 2016, and accordingly the Company's effective tax rate will not be materially affected by unrecognized tax benefits. The following tax years remain open to examination by the Company's principal tax jurisdictions: United States: 2012 and all following years Mexico: 2011 and all following years Canada: 2012 and all following years Gabon, Africa: 2013 and all following years The Company has not identified any uncertain tax position for which it is reasonably possible that the total amount of unrecognized tax benefit will significantly increase or decrease within the next 12 months. The Company's policy is to classify tax related interest and penalties as income tax expense. There is no interest or penalties estimated on the underpayment of income taxes as a result of unrecognized tax benefits.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Oct. 31, 2016
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS	NOTE 15 – FINANCIAL INSTRUMENTS Fair Value Measurements All financial assets and financial liabilities are recorded at fair value on initial recognition. Transaction costs are expensed when they are incurred, unless they are directly attributable to the acquisition of financial assets or the assumption of liabilities carried at amortized cost, in which case the transaction costs adjust the carrying amount. The three levels of the fair value hierarchy are as follows: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). Under fair value accounting, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of October 31, 2016 and October 31, 2015, the Company had no financial assets or liabilities required to be reported for fair value purposes. The carrying amounts of the Company's financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities and expenses approximate fair value at October 31, 2016 and October 31, 2015 due to the short maturities of these financial instruments. Credit Risk Credit risk is the risk that the counterparty to a financial instrument will cause a financial loss for the Company by failing to discharge its obligations. To mitigate exposure to credit risk on financial assets, the Company has established policies to ensure liquidity of funds and ensure that counterparties demonstrate minimum acceptable credit worthiness. The Company maintains its U.S. dollar and $CDN cash and cash equivalents in bank and demand deposit accounts with major financial institutions with high credit standings. Cash deposits held in the United States are insured by the Federal Deposit Insurance Corporation ("FDIC") for up to $250,000 and $CDN cash deposits held in Canada are insured by the Canada Deposit Insurance Corporation ("CDIC") for up to $CDN 100,000. Certain United States and Canadian bank accounts held by the Company exceed these federally insured limits or are uninsured as they related to U.S. dollar deposits held in Canadian financial institutions. As of October 31, 2016 and 2015, the Company's cash and cash equivalent balances held in United States and Canadian financial institutions included $1,375,673 and $854,979 respectively, which was not insured by the FDIC or CDIC. The Company has not experienced any losses on such accounts and management believes that using major financial institutions with high credit ratings mitigates the credit risk in cash and cash equivalents. The Company also maintains cash in bank accounts in Mexico and Gabon. These accounts are denominated in the local currency and are considered uninsured. As of October 31, 2016 and 2015, the U.S. dollar equivalent balance for these accounts was $17,010 and $19,393, respectively. Interest Rate Risk The Company holds substantially all of the Company's cash and cash equivalents in bank and demand deposit accounts with major financial institutions. The interest rates received on these balances may fluctuate with changes in economic conditions. Based on the average cash and cash equivalent balances during the fiscal year ended October 31, 2016, a 1% decrease in interest rates would have resulted in a reduction in interest income for the period of approximately $578. Foreign Currency Exchange Risk The Company is not subject to any material market risk related to foreign currency exchange rate fluctuations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 16 – COMMITMENTS AND CONTINGENCIES Compliance with Environmental Regulations The Company's exploration activities are subject to laws and regulations controlling not only the exploration and mining of mineral properties, but also the effect of such activities on the environment. Compliance with such laws and regulations may necessitate additional capital outlays or affect the economics of a project, and cause changes or delays in the Company's activities. Property Concessions Mexico To properly maintain property concessions in Mexico, the Company is required to pay a semi-annual fee to the Mexican government and complete annual assessment work. Royalty The Company has agreed to pay a 2% net smelter return royalty on certain property concessions within the Sierra Mojada Property based on the revenue generated from production. Total payments under this royalty are limited to $6.875 million (the "Royalty"). Office Lease Commitment The Company entered into a six-month office sub-lease agreement from July 1, 2016 to December 31, 2016 for the Company's corporate office in Vancouver, Canada. Subsequent to December 31, 2016 the office sub-lease agreement is on a month to month basis. The monthly lease payment is $CDN 4,300. As of October 31, 2016, one U.S. dollar approximates $CDN 1.34. Litigation and Claims On May 20, 2014, a local cooperative named Sociedad Cooperativa de Exploración Minera Mineros Norteños, S.C.L. ("Mineros Norteños") filed an action in the Local First Civil Court in the District of Morelos, State of Chihuahua, Mexico, against the Company's subsidiary, Minera Metalin, claiming that Minera Metalin breached an agreement regarding the development of the Sierra Mojada Project. On January 19, 2015, the case was moved to the Third District Court (of federal jurisdiction). Mineros Norteños is seeking payment of the Royalty, including interest at a rate of 6% per annum since August 30, 2004, notwithstanding that no revenue has been produced from the applicable mining concessions, and it is also seeking payment of wages to the cooperative's members since August 30, 2004, notwithstanding that none of the individuals were ever hired or performed work for Minera Metalin under this agreement and Minera Metalin never committed to hiring them. The Company and the Company's Mexican legal counsel believe that this claim is without merit and have asserted all applicable defenses. All necessary testimony and evidence has been produced before the court and the Company expects to receive a preliminary or final judgment of the Third Circuit Court in Chihuahua prior to the end of the first quarter of 2017. The Company has not accrued any amounts in its consolidated financial statements with respect to this claim. On February 15, 2016, Messrs. Jaime Valdez Farias and Maria Asuncion Perez Alonso (collectively, "Valdez") filed an action before the Local First Civil Court of Torreon, State of Coahuila, Mexico, against the Company's subsidiary, Minera Metalin, claiming that Minera Metalin had breached an agreement regarding the development of the Sierra Mojada Project. Valdez seeks payment in the amount of $5.9 million for the alleged breach of the agreement. On April 28, 2016, Minera Metalin filed its response to the complaint, asserting various defenses, including that Minera Metalin terminated the agreement before the payment obligations arose and that certain conditions precedent to such payment obligations were never satisfied by Valdez. The lawsuit is currently in the phase of evidence submission by the parties. The Company has not accrued any amounts in its consolidated financial statements with respect to this claim. From time to time, the Company is involved in other disputes, claims, proceedings and legal actions arising in the ordinary course of business. The Company intends to vigorously defend all claims against the Company, and pursue its full legal rights in cases where the Company has been harmed. Although the ultimate outcome of these proceedings cannot be accurately predicted due to the inherent uncertainty of litigation, in the opinion of management, based upon current information, no other currently pending or overtly threatened proceeding is expected to have a material adverse effect on the Company's business, financial condition or results of operations.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 17 – SEGMENT INFORMATION The Company operates in a single reportable segment: the exploration of mineral property interests. The Company has mineral property interests in Sierra Mojada, Mexico. Geographic information is approximately as follows: For the Year Ended October 31, 2016 2015 Net loss Mexico $ (1,002,000 ) $ (17,307,000 ) Canada (1,218,000 ) (1,453,000 ) Gabon (15,000 ) (114,000 ) Loss from Continuing Operations (2,235,000 ) (18,874,000 ) Income from Discontinued Operations - 128,000 Net Loss $ (2,235,000 ) $ (18,746,000 ) The following table details allocation of assets included in the accompanying balance sheet at October 31, 2016: Canada Mexico Gabon Total Cash and cash equivalents $ 1,450,000 $ 17,000 $ - $ 1,467,000 Value-added tax receivable, net - 117,000 - 117,000 Other receivables 3,000 2,000 - 5,000 Prepaid expenses and deposits 93,000 23,000 - 116,000 Assets held for sale - 21,000 - 21,000 Office and mining equipment, net - 226,000 - 226,000 Property concessions - 5,005,000 - 5,005,000 Goodwill - 2,058,000 - 2,058,000 $ 1,546,000 $ 7,469,000 $ - $ 9,015,000 The following table details allocation of assets included in the accompanying balance sheet at October 31, 2015: Canada Mexico Gabon Total Cash and cash equivalents $ 932,000 $ 18,000 $ 1,000 $ 951,000 Value-added tax receivable, net - 132,000 - 132,000 Income tax and other receivables 10,000 11,000 - 21,000 Prepaid expenses and deposits 104,000 30,000 1,000 135,000 Office and mining equipment, net - 306,000 - 306,000 Property concessions - 5,593,000 - 5,593,000 Goodwill - 2,058,000 - 2,058,000 $ 1,046,000 $ 8,148,000 $ 2,000 $ 9,196,000 The Company has significant assets in Coahuila, Mexico. Although Mexico is generally considered economically stable, it is always possible that unanticipated events in Mexico could disrupt the Company's operations. Neither the Mexican government nor the Gabonese government requires foreign entities to maintain cash reserves in its respective country. The following table details allocation of exploration and property holding costs for the exploration properties: For the Year Ended October 31, 2016 2015 Exploration and property holding costs Mexico Sierra Mojada $ (1,112,000 ) $ (17,263,000 ) Gabon Mitzic (15,000 ) (33,000 ) $ (1,127,000 ) $ (17,296,000 )

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company's consolidated financial statements are presented in the U.S. dollar and have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") using the accrual method of accounting, except for cash flow amounts.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, after elimination of intercompany accounts and transactions. The wholly owned subsidiaries of the Company are listed in Note 1 to the consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates based on assumptions about future events that affect the amounts reported in the consolidated financial statements and related notes to the consolidated financial statements. Actual results could differ from those estimates. Estimates and assumptions are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and assumptions are accounted for prospectively. Significant areas involving the use of estimates include determining the allowance for uncollectible taxes, evaluating recoverability of property concessions, evaluating impairment of long-lived assets, evaluating impairment of goodwill, establishing a valuation allowance on future use of deferred tax assets and calculating stock-based compensation.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when the title and risks and rewards of ownership pass to the buyer, the selling price is fixed and determinable, persuasive evidence of an arrangement exists and collection of the sale proceeds is considered probable. As of October 31, 2016, the Company has not recognized any revenues.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less at the date of purchase.
Property Concessions	Property Concessions Property concessions acquisition costs are capitalized when incurred and will be amortized using the units of production method following the commencement of production. If a property concession is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. To date, no property concessions have reached the production stage. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of property concessions.
Exploration Costs	Exploration Costs Exploration costs incurred are expensed to the date of establishing that costs incurred are economically recoverable. Exploration expenditures incurred subsequent to the establishment of economic recoverability are capitalized and included in the carrying amount of the related property. To date, the Company has not established the economic recoverability of its exploration prospects; therefore, all exploration costs are being expensed.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost less accumulated depreciation and impairment losses. Assets under construction are depreciated when they are substantially complete and available for their intended use, over their estimated useful lives. Repairs and maintenance of property and equipment are expensed as incurred. Costs incurred to enhance the service potential of property and equipment are capitalized and depreciated over the remaining useful life of the improved asset. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows: · Mining equipment – five to 10 years · Vehicles – four years · Building and structures – 40 years · Computer equipment and software – three years · Well equipment – 10 to 40 years · Office equipment – three to 10 years
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Management reviews and evaluates its long-lived assets for impairment when events and changes in circumstances indicate that the related carrying amounts of its assets may not be recoverable. Impairment is considered to exist if the future cash flows on an undiscounted basis are less than the carrying amount of the long-lived asset. An impairment loss is measured and recorded based on the difference between book value and fair value of the asset group. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable cash flows that are largely independent of cash flows from other asset groups. In estimating future cash flows the Company estimates the price that would be received to sell an asset group in an orderly transaction between market participants at the measurement date. Significant factors that impact this price include the price of silver and zinc, and general market conditions for exploration companies among other factors.
Assets Held for sale	Assets Held for Sale Office and mining equipment is classified as held for sale when the following conditions are met: (i) assets (or group of assets) are actively marketed for a price which reasonably approximates the fair value at the time of sale; (ii) management has committed to a plan to sell the assets (or group of assets); (iii) the assets (or group of assets) are available for sale in their current condition; and (iv) sale is probable within the next 12 months.
Goodwill	Goodwill Goodwill is the purchase premium after adjusting for the fair value of net assets acquired. Goodwill is not amortized but is reviewed for potential impairment on an annual basis, or when events or circumstances indicate a potential impairment, at the reporting unit level. The Company performs its annual goodwill impairment tests at April 30 th In performing the goodwill impairment tests, the Company has the option to elect to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that this is the case or the Company does not chose to elect to perform a qualitative assessment, the Company is required to perform the currently prescribed two-step goodwill impairment test to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized for that reporting unit (if any). If the Company determines based on the qualitative assessment that the fair value of a reporting unit is not less than its carrying amount, the two-step goodwill impairment test is not required. During the year ended October 31, 2015, the Company recorded an impairment charge to goodwill of $16,437,000. In determining the fair value of its long-lived assets, including goodwill, the Company used its market capitalization at October 31, 2015 and reduced this amount by the Company's cash and cash equivalents at October 31, 2015. The Company determined market capitalization less cash and cash equivalents to be sufficiently representative of fair value due to the limited number of comparable assets, all of which have unique characteristics. No impairment of goodwill was deemed necessary in fiscal year ended October 31, 2016.
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based on temporary differences between the tax basis and accounting basis of the assets and liabilities measured using tax rates enacted at the balance sheet date. The Company recognizes the tax benefit from uncertain tax positions only if it is at least "more likely than not" that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement with the taxing authorities. This accounting standard also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods and disclosure. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the "more likely than not" standard imposed by this guidance to allow recognition of such an asset. Management recorded a full valuation allowance at October 31, 2016 and October 31, 2015 against the deferred tax assets as it deems future realization would not meet the "more likely than not" criteria.
Stock-Based Compensation and Warrants	Stock-Based Compensation and Warrants The Company uses the Black-Scholes pricing model as a method for determining the estimated fair value for all stock options awarded to employees, officers, directors and consultants. The expected term of the options is based upon evaluation of historical and expected future exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the options. Volatility is determined based upon historical volatility of the Company's stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none as the Company has not paid dividends nor does the Company anticipate paying any dividends in the foreseeable future. The Company uses the graded vesting attribution method to recognize compensation costs over the requisite service period. The Company also uses the Black-Scholes valuation model to determine the fair market value of a placement agent's compensation warrants. Expected volatility is based upon weighted average historical volatility over the contractual term of the warrant and implied volatility. The risk-free interest rate is based upon implied yield on a U.S. Treasury zero-coupon issue with a remaining term equal to the contractual term of the warrants. The dividend yield is assumed to be none as the Company has not paid dividends nor does not anticipate paying any dividends in the foreseeable future.
Loss Per Share	Loss per Share Basic loss per share includes no dilution and is computed by dividing net loss available to common shareholders by the weighted average common shares outstanding for the period. Diluted loss per share reflects the potential dilution of securities that could share in the earnings of an entity similar to fully diluted loss per share. Although there were stock options and warrants in the aggregate of 16,058,258 shares and 8,657,858 shares outstanding at October 31, 2016 and 2015, respectively, they were not included in the calculation of loss per share because they would have been considered anti-dilutive.
Foreign Currency Translation	Foreign Currency Translation During the years ended October 31, 2016 and October 31, 2015, the functional currency of Silver Bull Resources, Inc. and its subsidiaries is the U.S. dollar except for the Gabonese subsidiaries whose functional currency is the Central African franc ("$CFA"). During the years ended October 31, 2016 and October 31, 2015 the Company's Mexican operations' monetary assets and liabilities were translated into U.S. dollars at the period-end exchange rate and non-monetary assets and liabilities were translated using the historical exchange rate. The Company's Mexican operations' revenue and expenses were translated at the average exchange rate during the period except for depreciation of office and mining equipment, cost of office and mining equipment sold and impairment of property concessions which are translated using the historical exchange rate. Foreign currency translation gains and losses of the Company's Mexican operations are included in the consolidated statement of operations. During the years ended October 31, 2016 and October 31, 2015 assets and liabilities of the Company's Gabonese operations were translated into U.S. dollars at the period-end exchange rate, and revenue and expenses were translated at the average exchange rate during the period. Exchange differences arising on translation were disclosed as a separate component of stockholders' equity. Realized gains and losses from foreign currency transactions were reflected in the results of operations and comprehensive loss.
Accounting for Loss Contingencies and Legal Costs	Accounting for Loss Contingencies and Legal Costs From time to time, the Company is named as a defendant in legal actions arising from its normal business activities. The Company records an accrual for the estimated loss from a loss contingency when information available prior to issuance of its financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Disclosure of a loss contingency is made by the Company if there is at least a reasonable possibility that a loss has been incurred, and either an accrual has not been made or an exposure to loss exists in excess of the amount accrued. In cases where only disclosure of the loss contingency is required, either the estimated loss or a range of estimated loss is disclosed or it is stated that an estimate cannot be made. Legal costs incurred in connection with loss contingencies are considered period costs and accordingly are expensed in the period services are provided.
Discontinued Operations	Discontinued Operations Dome International's consolidated statements of operations are presented as income/loss from discontinued operations in the 2015 consolidated statements of operations. The 2015 consolidated statements of cash flows have not been adjusted to reflect discontinued operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted in the Year Effective November 1, 2015 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update (" Recent Accounting Pronouncements Not Yet Adopted In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230)," which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning November 1, 2018. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In March 2016, the FASB issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting," which amends several aspects of the accounting for share-based payment transaction, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. These changes become effective for the Company's fiscal year beginning November 1, 2017. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In February 2016, the FASB issued ASU 2016-02, "Leases," which will require lessees to recognize assets and liabilities for the rights and obligations created by most leases on the balance sheet. These changes become effective for the Company's fiscal year beginning November 1, 2019. Modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, is required with an option to use certain transition relief. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities," which (i) requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, (ii) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (iii) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and (iv) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. These changes become effective for the Company's fiscal year beginning November 1, 2018. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In November 2015, the FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes," which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. These changes become effective for the Company's fiscal year beginning November 1, 2017. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position and disclosures at this time. In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. These changes became effective for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In August 2015, the FASB issued ASU 2015-14, "Deferral of the Effective Date," which defers the effective date of ASU 2014-09, "Revenue from Contracts with Customers" to become effective for the Company's fiscal year beginning November 1, 2018. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory," which provides a revised, simpler measurement for inventory to be measured at the lower of cost and net realizable value. These changes become effective for the Company's fiscal year beginning November 1, 2017. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires that debt issuance costs related to a recognized debt liability be presented as a reduction to the carrying amount of that debt liability, not as an asset. These changes became effective prospectively for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis," which amends the consolidation requirements in Accounting Standards Codification 810. These changes became effective prospectively for the Company's fiscal year beginning November 1, 2016. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. In August 2014, the FASB issued ASU 2014-15, "Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability To Continue as a Going Concern." ASU 2014-15 is intended to define management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The update provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. The amendments are effective for the Company's fiscal year and interim periods within those years beginning after November 1, 2017. Early application is permitted. The Company has not determined the effects of this update on the Company's financial position, results of operations or cash flows and disclosures at this time. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the SEC did not or are not believed to have a material impact on the Company's present or future consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Schedule of Property and Equipment Estimated Useful Lives	Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows: · Mining equipment – five to 10 years · Vehicles – four years · Building and structures – 40 years · Computer equipment and software – three years · Well equipment – 10 to 40 years · Office equipment – three to 10 years

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Oct. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial Information Included in Income and Balance Sheet from Discontinued Operations	The following table details selected financial information included in the (income) loss from discontinued operations for the fiscal years ended October 31, 2016 and 2015. For the Year Ended October 31, 2016 2015 Exploration and property holding costs $ — $ 85,542 Depreciation and asset impairment — 3,305 Foreign currency transaction loss — 70,430 Gain on sale of discontinued operations, net of income taxes — (287,280 ) Income from discontinued operations, net of income taxes $ — $ (128,003 )

VALUE-ADDED TAX RECEIVABLE (Tab

VALUE-ADDED TAX RECEIVABLE (Tables)	12 Months Ended
	Oct. 31, 2016
VALUE-ADDED TAX RECEIVABLE [Abstract]
Summary of the Changes in the Allowance for Uncollectible Taxes	A summary of the changes in the allowance for uncollectible VAT taxes for the fiscal years ended October 31, 2016 is as follows: Allowance for uncollectible VAT taxes – October 31, 2014 $ 116,274 Provision for uncollectible VAT Taxes 12,062 Write-off VAT receivable (3,550 ) Foreign currency translation adjustment (21,357 ) Allowance for uncollectible VAT taxes – October 31, 2015 103,429 Provision for uncollectible VAT Taxes 1,726 Write-off VAT receivable (3,835 ) Foreign currency translation adjustment (13,037 ) Allowance for uncollectible taxes – October 31, 2016 $ 88,283

OFFICE AND MINING EQUIPMENT (Ta

OFFICE AND MINING EQUIPMENT (Tables)	12 Months Ended
	Oct. 31, 2016
Property, Plant and Equipment [Abstract]
Summary of Office and Mining Equipment	The following is a summary of the Company's office and mining equipment at October 31, 2016 and October 31, 2015, respectively: October 31, October 31, 2016 2015 Mining equipment $ 291,529 $ 504,451 Vehicles 53,451 81,261 Building and structures 182,436 191,966 Computer equipment and software 83,701 83,701 Well equipment 39,637 39,637 Office equipment 52,931 52,931 703,685 953,947 Less: Accumulated depreciation (477,384 ) (648,333 ) Office and mining equipment, net $ 226,301 $ 305,614

PROPERTY CONCESSIONS (Tables)

PROPERTY CONCESSIONS (Tables)	12 Months Ended
	Oct. 31, 2016
PROPERTY CONCESSIONS [Abstract]
Summary of Property Concessions	The following is a summary of the Company's property concessions in Sierra Mojada, Mexico as at October 31, 2016 and 2015, respectively: Property Concessions – October 31, 2014 $ 5,563,263 Acquisitions 30,000 Property Concessions – October 31, 2015 $ 5,593,263 Impairment (588,877 ) Property Concessions – October 31, 2016 $ 5,004,386

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Oct. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of the Goodwill Balance	The following is a summary of the Company's goodwill balance as at October 31, 2016 and 2015, respectively: Goodwill – October 31, 2014 $ 18,495,031 Impairment (16,437,000 ) Goodwill – October 31, 2015 and 2016 $ 2,058,031

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	12 Months Ended
	Oct. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Assumptions Used to Value Stock Options Granted	A summary of the range of assumptions used to value stock options granted for the fiscal years ended October 31, 2016 and 2015 are as follows: Year Ended October 31, Options 2016 2015 Expected volatility 65% – 84% — Risk-free interest rate 0.79% – 0.98% — Dividend yield — — Expected term (in years) 2.50 – 3.50 —
Schedule of Stock Option Activity	The following is a summary of stock option activity for the fiscal years ended October 31, 2016 and 2015: Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2014 11,422,144 $ 0.50 3.00 $ — Forfeited or Cancelled (2,764,286 ) 0.64 Outstanding at October 31, 2015 8,657,858 $ 0.46 2.36 $ — Granted 4,375,000 0.06 Expired (1,000,000 ) 0.85 Forfeited or Cancelled (515,000 ) 0.46 Outstanding at October 31, 2016 11,517,858 0.28 2.66 $ 227,891 Exercisable at October 31, 2016 8,601,192 $ 0.35 2.09 $ 75,964
Schedule of Stock Options Outstanding and Exercisable by Exercise Price Range	Summarized information about stock options outstanding and exercisable at October 31, 2016 is as follows: Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.06 4,075,000 4.32 $ 0.06 1,358,334 $ 0.06 0.19 – 0.26 2,625,000 3.06 0.25 2,425,000 0.26 0.37 1,705,000 1.65 0.37 1,705,000 0.37 0.44 – 0.60 3,070,000 0.70 0.51 3,070,000 0.51 2.18 42,858 1.22 2.18 42,858 2.18 $ 0.06 – 2.18 11,517,858 2.66 $ 0.28 8,601,192 $ 0.35

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
	Oct. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
Schedule of Warrant Activity	A summary of warrant activity for the fiscal years ended October 31, 2016 and 2015 is as follows: Warrants Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2014 and 2015 — $ — — $ — Issued in the $CDN 0.13 Unit private placement (Note 11) 11,362,310 $ 0.12 Issued in the $CDN 0.15 Unit private placement (Note 11) 4,340,000 0.12 Placement Agent's Warrants 200,400 0.16 Exercised (3,120,000 ) 0.12 Expired (8,242,310 ) 0.12 Outstanding and exercisable at October 31, 2016 4,540,400 $ 0.12 2.67 $ —
Schedule of Warrants by Exercise Price Range	Summarized information about warrants outstanding and exercisable at October 31, 2016 is as follows: Warrants Outstanding and Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $ 0.12 4,340,000 2.72 $ 0.12 0.15 200,400 1.72 0.15 $ 0.12 – 0.15 4,540,400 2.67 $ 0.12

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Oct. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Loss before Income Taxes, by Tax Jurisdiction	The components of loss before income taxes were as follows: For the year ended 2016 2015 United States $ (1,363,000 ) $ (1,657,000 ) Foreign (863,000 ) (17,216,000 ) Loss from continuing operations (2,226,000 ) (18,873,000 ) Income from discontinued operations — 128,000 Loss before income taxes $ (2,226,000 ) $ (18,745,000 )
Schedule of Components of the Provision for Income Taxes	The components of the provision for income taxes are as follows: For the year ended 2016 2015 Foreign Current tax expense $ 9,000 $ — Deferred tax expense — — Total from continuing operations 9,000 — Total from discontinued operations — — $ 9,000 $ —
Reconciliation of U.S. Statutory Tax Rate to the Provision for Income Tax	The reconciliation of the provision for income taxes computed at the U.S. statutory rate to the provision for income tax as shown in the statement of operations and comprehensive loss is as follows: For the year ended October 31, 2016 2015 Income tax benefit calculated at U.S. federal income tax rate $ (779,000 ) $ (6,561,000 ) Differences arising from: Permanent differences due to goodwill impairment (Note 8) — 4,931,000 Other permanent differences 40,000 (944,000 ) Differences due to foreign income tax rates 43,000 1,210,000 Adjustment to prior year taxes 493,000 (223,000 ) Inflation adjustment foreign net operating loss (242,000 ) (272,000 ) Foreign currency fluctuations 1,731,000 2,091,000 Decrease in valuation allowance (1,452,000 ) (544,000 ) Net operation loss carry forwards expiration – Mexico 173,000 220,000 Other 2,000 92,000 Net income tax provision $ 9,000 $ —
Schedule of the Components of Deferred Tax Assets	The components of the deferred tax assets at October 31, 2016 and 2015 were as follows: October 31, 2016 2015 Deferred tax assets: Net operating loss carry forwards – U.S. $ 11,353,000 $ 11,322,000 Net capital loss carry forwards – U.S. 103,000 165,000 Net operating loss carry forwards – Mexico 8,300,000 9,148,000 Stock-based compensation – U.S. 24,000 53,000 Exploration costs — 560,000 Other – U.S. 35,000 21,000 Other – Mexico 19,000 20,000 Total net deferred tax assets 19,834,000 21,289,000 Less: valuation allowance (19,834,000 ) (21,289,000 ) Net deferred tax asset $ — $ —
Schedule of Open Tax Years	The following tax years remain open to examination by the Company's principal tax jurisdictions: United States: 2012 and all following years Mexico: 2011 and all following years Canada: 2012 and all following years Gabon, Africa: 2013 and all following years

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Schedule of Net Income (Loss) by Segment	Geographic information is approximately as follows: For the Year Ended October 31, 2016 2015 Net loss Mexico $ (1,002,000 ) $ (17,307,000 ) Canada (1,218,000 ) (1,453,000 ) Gabon (15,000 ) (114,000 ) Loss from Continuing Operations (2,235,000 ) (18,874,000 ) Income from Discontinued Operations - 128,000 Net Loss $ (2,235,000 ) $ (18,746,000 )
Schedule of the Allocation of Assets by Segment	The following table details allocation of assets included in the accompanying balance sheet at October 31, 2016: Canada Mexico Gabon Total Cash and cash equivalents $ 1,450,000 $ 17,000 $ - $ 1,467,000 Value-added tax receivable, net - 117,000 - 117,000 Other receivables 3,000 2,000 - 5,000 Prepaid expenses and deposits 93,000 23,000 - 116,000 Assets held for sale - 21,000 - 21,000 Office and mining equipment, net - 226,000 - 226,000 Property concessions - 5,005,000 - 5,005,000 Goodwill - 2,058,000 - 2,058,000 $ 1,546,000 $ 7,469,000 $ - $ 9,015,000 The following table details allocation of assets included in the accompanying balance sheet at October 31, 2015: Canada Mexico Gabon Total Cash and cash equivalents $ 932,000 $ 18,000 $ 1,000 $ 951,000 Value-added tax receivable, net - 132,000 - 132,000 Income tax and other receivables 10,000 11,000 - 21,000 Prepaid expenses and deposits 104,000 30,000 1,000 135,000 Office and mining equipment, net - 306,000 - 306,000 Property concessions - 5,593,000 - 5,593,000 Goodwill - 2,058,000 - 2,058,000 $ 1,046,000 $ 8,148,000 $ 2,000 $ 9,196,000
Schedule of Exploration and Property Holding Costs by Segment	The following table details allocation of exploration and property holding costs for the exploration properties: For the Year Ended October 31, 2016 2015 Exploration and property holding costs Mexico Sierra Mojada $ (1,112,000 ) $ (17,263,000 ) Gabon Mitzic (15,000 ) (33,000 ) $ (1,127,000 ) $ (17,296,000 )

ORGANIZATION, DESCRIPTION OF 36

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) - USD ($)	Oct. 31, 2016	Oct. 31, 2015
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN [Abstract]
Accumulated Deficit	$ 120,281,820	$ 118,046,936
Working capital	1,248,616
Cash and cash equivalents	$ 1,467,328	$ 950,878

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Accounting Policies [Abstract]
Anti-dilutive shares, stock options and warrants outstanding	16,058,258	8,657,858
Goodwill impairment		$ 16,437,000

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Property and Equipment Estimated Useful Lives) (Details)	12 Months Ended
	Oct. 31, 2016
Mining equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Mining equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Building and structures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Well equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Well equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Office equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Office equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

DISCONTINUED OPERATIONS (Narrat

DISCONTINUED OPERATIONS (Narrative) (Details)	Dec. 13, 2013USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Cash consideration	$ 1,500,000
Reimbursement expenses	75,000
Discontinued Operations And Disposal Groups Transaction Costs	$ 210,243

DISCONTINUED OPERATIONS (Schedu

DISCONTINUED OPERATIONS (Schedule of Financial Information Included in Income from Discontinued Operations) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Exploration and property holding costs		$ 85,542
Depreciation and asset impairment		3,305
Recovery of uncollectible value added taxes
Foreign currency transaction loss		70,430
Gain on sale of assets of discontinued operations, net of income taxes		(287,280)
Income from discontinued operations, net of income taxes		$ (128,003)

VALUE-ADDED TAX RECEIVABLE (Nar

VALUE-ADDED TAX RECEIVABLE (Narrative) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
VALUE-ADDED TAX RECEIVABLE [Abstract]
Value-added tax receivable, current	$ 117,276	$ 132,207
Provision for uncollectible value-added taxes	$ 1,726	$ 12,062

VALUE-ADDED TAX RECEIVABLE (Sum

VALUE-ADDED TAX RECEIVABLE (Summary of the Changes in the Allowance for Uncollectible Taxes) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
VALUE-ADDED TAX RECEIVABLE [Abstract]
Allowance for uncollectible VAT taxes, beginning balance	$ 103,429	$ 116,274
Provision for uncollectible VAT Taxes	1,726	12,062
Write-off VAT receivable	(3,835)	(3,550)
Foreign currency translation adjustment	(13,037)	(21,357)
Allowance for uncollectible VAT taxes, ending balance	$ 88,283	$ 103,429

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details)	12 Months Ended
	Oct. 31, 2016USD ($)
Assets Held For Sale Details
Assets held for sale	$ 21,283
Impairment of assets held for sale	13,788
Gain on sale of office and mining equipment	$ 132,817

OFFICE AND MINING EQUIPMENT (De

OFFICE AND MINING EQUIPMENT (Details) - USD ($)	Oct. 31, 2016	Oct. 31, 2015
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	$ 703,685	$ 953,947
Less: Accumulated depreciation	(477,384)	(648,333)
Office and mining equipment, net	226,301	305,614
Mining equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	291,529	504,451
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	53,451	81,261
Building and structures [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	182,436	191,966
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	83,701	83,701
Well equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	39,637	39,637
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	$ 52,931	$ 52,931

PROPERTY CONCESSIONS (Details)

PROPERTY CONCESSIONS (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
PROPERTY CONCESSIONS [Abstract]
Property Concessions, beginning balance	$ 5,593,263	$ 5,563,263
Acquisitions		30,000
Impairment	(588,877)
Property Concessions, ending balance	$ 5,004,386	$ 5,593,263

GOODWILL (Narrative) (Details)

GOODWILL (Narrative) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss		$ 16,437,000

GOODWILL (Summary of the Goodwi

GOODWILL (Summary of the Goodwill Balance) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Begining period	$ 2,058,031	$ 18,495,031
Impairment		(16,437,000)
Goodwill Ending period	$ 2,058,031	$ 2,058,031

ACCRUED LIABILITIES AND EXPEN48

ACCRUED LIABILITIES AND EXPENSES (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Accrued Liabilities and Other Liabilities [Abstract]
Insurance premium interest rate	7.49%	7.99%
Insurance premium maturity period	1 year
Accrued liabilities and expenses	$ 87,000	$ 65,250

SHAREHOLDER RIGHTS PLAN (Detail

SHAREHOLDER RIGHTS PLAN (Details) - $ / shares	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Class of Warrant or Right [Line Items]
Common stock, shares outstanding	177,894,967	159,072,657	159,072,657
Stock Appreciation Rights (SARs) [Member]
Class of Warrant or Right [Line Items]
Shareholder Rights, record date	Jun. 22, 2007
Common stock, shares outstanding	177,894,967
Minimum purchase of ownership percentage to activate Rights	20.00%
Purchase price per Right	$ 20
Expiration date of Shareholders Rights	Jun. 11, 2017

COMMON STOCK (Details)

COMMON STOCK (Details)

1 Months Ended

12 Months Ended

Oct. 31, 2016USD ($)shares

Oct. 31, 2016CADshares

Sep. 19, 2016USD ($)

Sep. 19, 2016CADCAD / sharesshares

Sep. 15, 2016USD ($)

Sep. 15, 2016CADCAD / sharesshares

Aug. 05, 2016CAD / sharesshares

Jun. 29, 2016USD ($)shares

Jun. 29, 2016CADCAD / sharesshares

Oct. 31, 2016USD ($)shares

Oct. 31, 2015USD ($)

Jul. 20, 2016CAD / shares

Class of Stock [Line Items]

Proceeds from issuance of common stock

$ 1,503,254

Placement Agent's Warrants [Member]

Class of Stock [Line Items]

Fair value of warrants issued

$ 11,621

$ 11,621

$CDN 0.13 Unit [Member]

Class of Stock [Line Items]

Stock issued during period, shares | shares

11,362,310

11,362,310

Equity issuance, price per share | CAD / shares

CAD 0.13

Proceeds from issuance of common stock

$ 1,137,643

Description of units

Each $CDN 0.13 Unit consists of one share of the Company's common stock and one warrant (the "$CDN 0.13 Warrant"). Each $CDN 0.13 Warrant entitles the holder thereof to acquire one share of common stock at a price of $CDN 0.16 for the period of 12 months from the closing of the tranche of the private placement. If the closing price of the common stock of the Company on the OTCQB Venture Marketplace is $0.18 or higher for five consecutive trading days then the $CDN 0.13 Warrant will expire 30 trading days from such fifth consecutive day.

Finders fee percentage rate paid to agents

8.00%

Aggregate finders fee costs incurred

$ 19,644

Offering costs incurred

$ 55,799

$CDN 0.13 Unit [Member] | Canadian Dollars [Member]

Class of Stock [Line Items]

Proceeds from issuance of common stock | CAD

CAD 651,000

CAD 1,477,100

$CDN 0.15 Unit [Member]

Class of Stock [Line Items]

Stock issued during period, shares | shares

4,340,000

4,340,000

Equity issuance, price per share | CAD / shares

CAD 0.15

Proceeds from issuance of common stock

$ 504,729

Description of units

Each $CDN 0.15 Warrant entitles the holder thereof to acquire one common stock at a price of $CDN 0.16 for the period of 36 months from the closing of the private placement. If, commencing on the date that is four months after the closing of the private placement, the closing price of the common stock on the TSX is higher than $CDN 0.30 for 20 consecutive trading days, then on the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the $CDN 0.15 Warrants may be accelerated to the 20th trading day after the Acceleration Trigger Date by the issuance, within three trading days of the Acceleration Trigger Date, of a news release announcing such acceleration.

Finders fee percentage rate paid to agents

6.00%

Aggregate finders fee costs incurred

$ 23,326

Offering costs incurred

$ 40,349

$CDN 0.15 Unit [Member] | Placement Agent's Warrants [Member]

Class of Stock [Line Items]

Number of warrants issued | shares

200,400

$CDN 0.13 Warrant [Member]

Class of Stock [Line Items]

Stock issued during period, shares | shares

11,362,310

Description of units

The $CDN 0.13 Warrants was triggered following a period of five consecutive trading days in which the closing price of the common stock of the Company on the OTCQB Venture Marketplace was $0.18 or higher.

Warrant Expiration date

Sep. 19, 2016

Exercise price | CAD / shares

CAD 0.13

$CDN 0.16 Warrant [Member]

Class of Stock [Line Items]

Proceeds from issuance of common stock

$ 75,112

$ 303,951

Offering costs incurred

$ 1,509

Warrant Acquired | shares

620,000

2,500,000

Common stock Exercised | shares

620,000

2,500,000

Exercise price | CAD / shares

CAD 0.16

CAD 0.16

$CDN 0.16 Unit [Member] | Canadian Dollars [Member]

Class of Stock [Line Items]

Proceeds from issuance of common stock | CAD

CAD 99,200

CAD 400,000

STOCK OPTIONS (Narrative) (Deta

STOCK OPTIONS (Narrative) (Details)	12 Months Ended
	Oct. 31, 2016USD ($)$ / sharesshares	Oct. 31, 2016USD ($)CAD / sharesshares	Oct. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of options granted | $ / shares	$ 0.06
Total options exercised during the period	0		0
Weighted-average grant date fair value of options granted during period | $ / shares	$ 0.03
Stock-based compensation costs recognized during the period | $	$ 102,993		$ 104,169
Total unrecognized compensation costs related to non-vested share based compensation arrangements granted under qualified stock option plans | $	$ 46,501	$ 46,501
Weighted-average period for remaining compensation costs to be recognized	7 months 2 days
Stock Option Plan One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The number of shares authorized under the plan	5,000,000	5,000,000
Stock Option Plan Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The number of shares authorized under the plan	30,000,000	30,000,000
Employee Stock Option [Member] | Issuance One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options granted during the period	4,075,000
Exercise price of options granted | CAD / shares		$ 0.075
Employee Stock Option [Member] | Issuance Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options granted during the period	300,000
Exercise price of options granted | CAD / shares		$ 0.255
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for plan	2 years
Contractual term for options	10 years
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for plan	1 year
Contractual term for options	2 years

STOCK OPTIONS (Schedule of Assu

STOCK OPTIONS (Schedule of Assumptions Used to Value Stock Options Granted) (Details)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	65.00%
Expected volatility, maximum	84.00%
Risk-free interest rate, minimum	0.79%
Risk-free interest rate, maximum	0.98%
Dividend yield
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	2 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	3 years 6 months

STOCK OPTIONS (Summary of Stock

STOCK OPTIONS (Summary of Stock Option Activity) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Shares
Outstanding, beginning	8,657,858	11,422,144	11,422,144
Expired	(1,000,000)
Forfeited or Cancelled	(515,000)	(2,764,286)
Outstanding, ending	11,517,858	8,657,858	11,422,144
Exercisable, ending	8,601,192
Weighted Average Exercise Price
Outstanding, beginning	$ 0.46	$ 0.50	$ 0.50
Granted	0.06
Expired	0.85
Forfeited or Cancelled	0.46	0.64
Outstanding, ending	$ 0.28	$ 0.46	$ 0.50
Weighted average remaining contractual life, Outstanding	2 years 7 months 28 days	2 years 4 months 10 days	3 years
Weighted average remaining contractual life, Exercisable	2 years 1 month 2 days
Aggregate intrinsic value, Outstanding	$ 227,891
Exercisable
Weighted average exercise price	$ 0.35
Aggregate intrinsic value, exercisable	$ 75,964

STOCK OPTIONS (Summarized Infor

STOCK OPTIONS (Summarized Information of Stock Options Outstanding and Exercisable) (Details)	12 Months Ended
	Oct. 31, 2016$ / sharesshares
0.06 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	$ 0.06
Number of options outstanding | shares	4,075,000
Weighted Average Remaining Contractual Life (Years)	4 years 3 months 26 days
Options Outstanding - Weighted Average Exercise Price	$ 0.06
Number Exercisable | shares	1,358,334
Options Exercisable - Weighted Average Exercise Price	$ 0.06
0.19 - 0.26 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	0.19
Maximum exercise price	$ 0.26
Number of options outstanding | shares	2,625,000
Weighted Average Remaining Contractual Life (Years)	3 years 22 days
Options Outstanding - Weighted Average Exercise Price	$ 0.25
Number Exercisable | shares	2,425,000
Options Exercisable - Weighted Average Exercise Price	$ 0.26
0.37 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	$ 0.37
Number of options outstanding | shares	1,705,000
Weighted Average Remaining Contractual Life (Years)	1 year 7 months 24 days
Options Outstanding - Weighted Average Exercise Price	$ 0.37
Number Exercisable | shares	1,705,000
Options Exercisable - Weighted Average Exercise Price	$ 0.37
0.44 - 0.60 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	0.44
Maximum exercise price	$ 0.60
Number of options outstanding | shares	3,070,000
Weighted Average Remaining Contractual Life (Years)	8 months 12 days
Options Outstanding - Weighted Average Exercise Price	$ 0.51
Number Exercisable | shares	3,070,000
Options Exercisable - Weighted Average Exercise Price	$ 0.51
2.18 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	$ 2.18
Number of options outstanding | shares	42,858
Weighted Average Remaining Contractual Life (Years)	1 year 2 months 19 days
Options Outstanding - Weighted Average Exercise Price	$ 2.18
Number Exercisable | shares	42,858
Options Exercisable - Weighted Average Exercise Price	$ 2.18
0.06 - 2.18 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Minimum exercise price	0.06
Maximum exercise price	$ 2.18
Number of options outstanding | shares	11,517,858
Weighted Average Remaining Contractual Life (Years)	2 years 7 months 28 days
Options Outstanding - Weighted Average Exercise Price	$ 0.28
Number Exercisable | shares	8,601,192
Options Exercisable - Weighted Average Exercise Price	$ 0.35

WARRANTS (Narrative) (Details)

WARRANTS (Narrative) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Dividend yield
Placement Agent's Warrants [Member]
Fair value of warrants issued	$ 11,621
Risk free interest rate	0.73%
Expected volatility	89.00%
Dividend yield	0.00%
Contractual term	2 years
Warrant Intrinsic value of Exercise	$ 57,737

WARRANTS (Summary of Warrant Ac

WARRANTS (Summary of Warrant Activity) (Details) - $ / shares	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Shares
Expired	(1,000,000)
Weighted Average Exercise Price
Expired	$ 0.85
Weighted Average Remaining Contractual Life	2 years 7 months 28 days	2 years 4 months 10 days	3 years
Weighted Average Remaining Contractual Life, Exercisable	2 years 1 month 2 days
Warrant [Member]
Shares
Outstanding, beginning
Issued in the $CDN 0.13 Unit private placement (Note 11)	11,362,310
Issued in the $CDN 0.15 Unit private placement (Note 11)	4,340,000
Placement Agent's Warrants	200,400
Exercised	(3,120,000)
Expired	(8,242,310)
Outstanding, ending	4,540,400
Weighted Average Exercise Price
Outstanding, beginning
Issued in the $CDN 0.13 Unit private placement (Note 11), weighted average exercise price	0.12
Issued in the $CDN 0.15 Unit private placement (Note 11), weighted average exercise price	0.12
Placement Agent's Warrants, weighted average exercise price	0.16
Exercised, weighted average exercise price	0.12
Expired	0.12
Outstanding, ending, weighted average exercise price	$ 0.12
Weighted Average Remaining Contractual Life, Exercisable	2 years 8 months 1 day

WARRANTS (Summary of Warrants O

WARRANTS (Summary of Warrants Outstanding and Exercisable by Price Range) (Details)	12 Months Ended
	Oct. 31, 2016$ / sharesshares
Class of Warrant or Right [Line Items]
Range of exercise price, lower limit	$ 0.12
Range of exercise price, upper limit	$ 0.15
Number outstanding | shares	4,540,400
Remaining Average Contractual Life	2 years 8 months 1 day
Weighted average exercise price, outstanding	$ 0.12
Warrant Exercise Price Range One [Member]
Class of Warrant or Right [Line Items]
Range of exercise price, lower limit	0.12
Range of exercise price, upper limit	$ 0.12
Number outstanding | shares	4,340,000
Remaining Average Contractual Life	2 years 8 months 19 days
Weighted average exercise price, outstanding	$ 0.12
Warrant Exercise Price Range Two [Member]
Class of Warrant or Right [Line Items]
Range of exercise price, lower limit	0.15
Range of exercise price, upper limit	$ 0.15
Number outstanding | shares	200,400
Remaining Average Contractual Life	1 year 8 months 19 days
Weighted average exercise price, outstanding	$ 0.15

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) $ in Millions	12 Months Ended
	Oct. 31, 2016USD ($)
Internal Revenue Service (IRS) [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards	$ 32
Capital loss carryforward	$ 0.3
Capital loss carryforward, expiration date	Dec. 31, 2020
Internal Revenue Service (IRS) [Member] | Minimum [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards, expiration dates	Dec. 31, 2018
Internal Revenue Service (IRS) [Member] | Maximum [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards, expiration dates	Dec. 31, 2036
Mexican Tax Authority [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards	$ 28
Mexican Tax Authority [Member] | Minimum [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards, expiration dates	Dec. 31, 2017
Mexican Tax Authority [Member] | Maximum [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry forwards, expiration dates	Dec. 31, 2026

INCOME TAXES (Schedule of Compo

INCOME TAXES (Schedule of Components of Loss before Income Taxes, by Tax Jurisdiction) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Loss from continuing operations	$ (2,226,000)	$ (18,873,000)
Income (loss) from discontinued operations		128,003
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(2,225,776)	(18,873,496)
United States [Member]
Segment Reporting Information [Line Items]
Loss from continuing operations	(1,363,000)	(1,657,000)
Foreign [Member]
Segment Reporting Information [Line Items]
Loss from continuing operations	$ (863,000)	$ (17,216,000)

INCOME TAXES (Components of the

INCOME TAXES (Components of the Provision for Income Taxes) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Current tax expense	$ 9,000
Deferred tax expense
Total from continuing operations	9,000
Total from discontinued operations
Net income tax provision	$ 9,108	$ 336

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of the Provision For Income Taxes) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income tax benefit calculated at U.S. Federal Income tax rate	$ (779,000)	$ (6,561,000)
Differences arising from:
Permanent differences due to goodwill impairment (Note 8)		4,931,000
Other permanent differences	40,000	(944,000)
Differences due to foreign income tax rates	43,000	1,210,000
Adjustment to prior year taxes	493,000	(223,000)
Inflation adjustment foreign net operating loss	(242,000)	(272,000)
Foreign currency fluctuations	1,731,000	2,091,000
Decrease in valuation allowance	(1,452,000)	(544,000)
Net operation loss carry forwards expiration - Mexico	173,000	220,000
Other	2,000	92,000
Net income tax provision	$ 9,000

INCOME TAXES (Components of Def

INCOME TAXES (Components of Deferred Tax Assets) (Details) - USD ($)	Oct. 31, 2016	Oct. 31, 2015
Deferred tax assets:
Net operating loss carry forwards - U.S.	$ 11,353,000	$ 11,322,000
Net capital loss carry forwards - U.S.	103,000	165,000
Net operating loss carry forwards - Mexico	8,300,000	9,148,000
Stock-based compensation - U.S.	24,000	53,000
Exploration costs		560,000
Other - U.S.	35,000	21,000
Other - Mexico	19,000	20,000
Total net deferred tax assets	19,834,000	21,289,000
Less: valuation allowance	(19,834,000)	(21,289,000)
Net deferred tax asset

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details)	12 Months Ended
	Oct. 31, 2016USD ($)	Oct. 31, 2016CAD	Oct. 31, 2015USD ($)
Cash balance insured by FDIC per financial institution	$ 250,000
Cash balance insured by CDIC per financial institution | CAD		CAD 100,000
Value of total cash accounts held in Mexico and Gabon	17,010		$ 19,393
Effect of a 1% decrease in interest rates on interest income	578
US Dollars [Member]
Cash balances not insured	1,375,673		854,979
Canadian Dollars [Member]
Cash balances not insured	$ 1,375,673		$ 854,979

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Royalty) (Details) - Sierra Mojada [Member]	Oct. 31, 2016USD ($)
Property Concessions By Location Of Concessions [Line Items]
Percentage rate of net smelter return royalties	2.00%
The maximum net smelter return royalties that can be paid	$ 687,500

COMMITMENTS AND CONTINGENCIES65

COMMITMENTS AND CONTINGENCIES (Office Lease Commitment) (Details)	12 Months Ended
	Oct. 31, 2016CAD
Commitments and Contingencies Disclosure [Abstract]
Lease term	6 months
Lease expiration	Dec. 31, 2016
Monthly lease payment	CAD 4,300
Foreign currency exchange rate translation	1.34

COMMITMENTS AND CONTINGENCIES66

COMMITMENTS AND CONTINGENCIES (Litigation and Claims) (Details) $ in Millions	12 Months Ended
	Oct. 31, 2016USD ($)
Litigation and Claims:
Interest rate sought on the Royalty	6.00%
Damages sought in litigation matter	$ 5.9

SEGMENT INFORMATION (Schedule o

SEGMENT INFORMATION (Schedule of Segment Net Loss) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Loss from Continuing Operations	$ (2,234,884)	$ (18,873,832)
Income from Discontinued Operations		128,003
Net loss	(2,234,884)	(18,745,829)
Mexico [Member]
Segment Reporting Information [Line Items]
Loss from Continuing Operations	(1,002,000)	(17,307,000)
Canada [Member]
Segment Reporting Information [Line Items]
Loss from Continuing Operations	(1,218,000)	(1,453,000)
Gabon [Member]
Segment Reporting Information [Line Items]
Loss from Continuing Operations	$ (15,000)	$ (114,000)

SEGMENT INFORMATION (Schedule68

SEGMENT INFORMATION (Schedule of Segment Assets) (Details) - USD ($)	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Cash and cash equivalents	$ 1,467,328	$ 950,878
Value-added tax receivable,net	117,276	132,207
Income tax and other receivables	4,652	18,400
Prepaid expenses and deposits	116,271	135,421
Assets held for sale	21,283
Office and mining equipment, net	226,301	305,614
Property concessions	5,004,386	5,593,263	$ 5,563,263
Goodwill	2,058,031	2,058,031	$ 18,495,031
TOTAL ASSETS	9,015,528	9,196,410
Canada [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	1,450,000	932,000
Value-added tax receivable,net
Income tax and other receivables	3,000	10,000
Prepaid expenses and deposits	93,000	104,000
Assets held for sale
Office and mining equipment, net
Property concessions
Goodwill
TOTAL ASSETS	1,546,000	1,046,000
Mexico [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	17,000	18,000
Value-added tax receivable,net	117,000	132,000
Income tax and other receivables	2,000	11,000
Prepaid expenses and deposits	23,000	30,000
Assets held for sale	21,000
Office and mining equipment, net	226,000	306,000
Property concessions	5,005,000	5,593,000
Goodwill	2,058,000	2,058,000
TOTAL ASSETS	7,469,000	8,148,000
Gabon [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents		1,000
Value-added tax receivable,net
Income tax and other receivables
Prepaid expenses and deposits		1,000
Assets held for sale
Office and mining equipment, net
Property concessions
Goodwill
TOTAL ASSETS		$ 2,000

SEGMENT INFORMATION (Schedule69

SEGMENT INFORMATION (Schedule of Segment Exploration and Property Holding Costs) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Exploration and property holding costs for the period	$ (1,127,221)	$ (17,296,024)
Mexico [Member]
Segment Reporting Information [Line Items]
Exploration and property holding costs for the period	(1,112,000)	(17,263,000)
Mitzic, Gabon [Member]
Segment Reporting Information [Line Items]
Exploration and property holding costs for the period	$ (15,000)	$ (33,000)